Mr. Rashid bin Ali Al Mansoori, CEO of Qatar Exchange (QE), stressed on the vital role played by Qatar Exchange in supporting the development of Qatar’s finance and capital market sector, along with other concerned government agencies and regulatory authorities.
During the speech delivered in “Qatar’s Banking Summit 2012”, which was organized by MEED, Mr. Al-Mansoori pointed out that Qatar Exchange has developed an ambitious long-term strategy, aiming at transforming the capital market in the State of Qatar into a leading market in the region in line with the objectives of Qatar’s 2030 National Vision.
Mr. Al-Mansoori stated that the stock market is the mirror of the economy as it supports the growth of listed companies to serve the development and prosperity plans in the country, adding that the stock market reveals financial events and the reality of what happens in companies.
Mr. A-Mansoori discussed the current and future situation of the capital market in the State of Qatar in terms of QE’s contribution in developing this sector through reforming QE’s cash equity market, diversifying the investment tools, and introducing new debt market in Qatar Exchange.
Mr. Al-Mansoori also pointed out that Qatar Exchange has introduced an advanced trading system (UTP) and launched the QE’s Venture Market with the objective of supporting the growth of SMEs and positioning Qatar Exchange at the centre of the government’s ongoing support for this important sector which is a key element in ‘Vision 2030’.
He added that QE also developed many products and work schemes to enhance the diversity of its market investment options such as the Treasury Bills, ETF’s, REIT’s, the Delivery versus Payment (DvP) mechanism, Liquidity provision scheme, and new indices, along with modifying the free float trading conditions.
Mr. Al Mansoori highlighted the fundamental role of Qatar Financial Markets Authority in supporting the capital market in the State of Qatar by organizing the securities’ trading activities and enhancing the organizational and regulatory efficiency through the implementation of laws and regulations that are based on the highest standards and the best international practices in the securities’ sector.
In another context, Mr. Mansoori underlined the importance of enhancing the liquidity in the market, increasing the number of listed companies in the main market and launching the venture market. He also emphasized QE’s endeavours to provide the appropriate conditions to attract more companies, including family enterprises and SMEs, for listing in the main and venture markets.
Mr. Al-Mansoori went on saying that Qatar Exchange also seeks to attract foreign investment by improving liquidity conditions, expanding market membership base, developing listing procedures and product diversification and optimizing disclosure and transparency measures, adding that Direct Market Access (DMA) will allow the international institutions to access QE’s market for trading via one of QE’s approved brokers.
Furthermore, Al Mansoori stated that, when deciding on any action related to its business development, the Qatar Exchange would first examine the impact of such actions on investors so as to serve their best interests and the national economy’s interest in general, while being highly motivated by the wise directions of H.H. Sheikh Hamad bin Khalifah Al Thani, the Emir of the State of Qatar and H.H. Heir Apparent Sheikh Tamim bin Hamad bin Khalifah Al Thani, God bless them.
(click here to read the speech of Mr. Al Mansoori)
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